Mr Clarke says he struggles to get through to anyone at Acenden to get clarity on his situation.
Ms Davey lives alone and works as a PA. She earns £26,000 a year which means her monthly take home pay is £1,740. Recent interest rate hikes have squeezed her finances and, like Mr Clarke, she is on a variable rate. There is a parallel with Mr Clarke’s situation here. SPML never dealt with their borrowers directly, their mortgages were all arranged via third-party brokers.
These layers of complexity and opacity have added to Mr Clarke’s confusion. He may have been duped by his broker.found that three out of five of their mortgages were “liar loans” where borrowers were allowed to self-certify and never asked to prove their income.Ray Boulger . “It does sound like Mr Clarke’s mortgage would have been particularly difficult for him to repay.”
“Under more recent FCA guidelines, Kensington should have offered Mr Clarke a new mortgage deal on the outstanding amount,” Mr Boulger adds. “Though they don’t have the power to enforce that.”
Victoria_Spratt If you did not know you had a Self Certification mortgage ,like us,for 12 years ,then the mortgage was mis-sold. But FSCS will not compensate us. FSCS lied to our MP,lied to the Board at Appeal, ignored the Ombudsman who verified our case against the broker ( the Broker lied)
Victoria_Spratt The compensation scheme FSCS set up by parliament,in our experience are content to allow intermediaries to lie about assets and income in order to illegally transact an inappropriate mortgage &get their commission
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